Global warming and climate change are expected to further increase food prices and overall inflation across the world in the future. Recently, this information has emerged in a study conducted by German researchers and the European Central Bank.
The research article was published last Thursday in the journal Communications Earth and Environment. That said, the effects of global warming will vary from place to place but will be felt everywhere. The impact will be greater in developing countries, in particular.
As the climate warms, extreme weather events such as wildfires, droughts, and floods are now becoming a regular occurrence. It is affecting the main sectors of the economy, including agriculture and food production.
For this study, researchers from Germany’s Potsdam Institute for Climate Impact Research (PIK) and the European Central Bank analyzed commodity prices and weather data from 121 countries in the world from 1996 to 2021.
According to the study, by 2035, rising temperatures brought on by climate change could result in an annual increase in food prices of 1.49 to 1.79 percent worldwide.
source: AFP PARIS
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